Articles on: Signals and Automation

Using Altrady's Signal Bot with Futures exchanges

Altrady's SIgnal Bot can be used with Futures exchanges, both for Webhook signals and CBS signals.

For the basics of setting up a Signal bot, see the following:
Signal Bot Settings
Signal Bot: Quick Start Guide
Altrady's Crypto Base Scanner
Webhook and Trading View signals

This article covers aspects of the Signal bot that are specific to Futures accounts.
Basic details can be found in the above articles.

If there is already a position open on the market the bot will not open another position on that market. This applies whether or not the existing position was created by the current Signal Bot, another Signal Bot, or on the exchange.

Bot Settings Specific to Futures accounts

Maximum Positions per Market

This is set to one and cannot be altered.
The Signal Bot does not allow for a second position to be opened on a market, whether or not the original position was created by the signal bot.
Altrady does not yet support hedge mode. This is a planned feature.
A second position in the same direction would effectively increase the position size on the exchange:
As an alternative, the Position size can be increased manually by clicking one of the orders (to open the edit), and +Add Target. An extra entry will be added, for the same value as the most recently filled entry order. Change the positoin size or Buy/Spend amount to adjust the new entry size.
A webhook signal for increasing position size is coming soon.

Margin Type

Choose Isolated or Crossed margin for the positions started by this signal bot

Leverage Amount

Enter the required leverage value. Note that the Signal Bot is not able to validate the leverage amount since it will vary by market for each exchange.

Order Sizes

The leveraged order sizes are shown for the entry orders, underneath the entry fields.
Using 100% balance for the order size will not work on some exchanges due to price fluctuations. This can result in the error: No Entry Orders to Create. Try a smaller order size.
Enter the leverage amount before the entry order size.

To invest a percentage of the available funds:
Select % of Total Balance
Enter the percentage for the order size for the initial entry order.
Check the Est. initial order size, below the initial order size. This is based on the current available balance including leverage, so will vary depending on how many positoins are open at the time.
Note that Altrady does not have access to detail of your cross-margin account or risk.
Once a position has opened, the actual liquidation price is shown on the Trading Terminal in My Positions and the Position Info widget.

% entry size is for the initial entry order. Underneath, Altrady shows the initial order size.

To invest a fixed amount as the position entry order:
Select Fixed Amount
Enter the size (leveraged amount) for the initial order
Check the Est. initial order size, below the initial order size.
Note that Altrady does not have access to detail of your cross-margin account or risk.
Once a position has opened, the actual liquidation price is shown on the Trading Terminal in My Positions and the Position Info widget.

Fixed entry size. Underneath, Altrady shows the initial order size which should be approx the same amount

DCA (extra entry) orders

The size will be the initial entry size x Target quantity.
The Estimated order size is shown immediately below.
After the last DCA, the total position size is also shown, based on the current available amount (leveraged).

Leveraged values for DCA orders and Total Position Size

CBS Signal Bots

The Crypto Base Scanner signals can be used to open positions using the signal bot.
This functions in the same way as using CBS signals for Spot markets. The only difference is that leverage is applied.

Stop Losses for Futures markets

Many traders choose not to use a Stop Loss with CBS-style signals, and instead use deep DCAs, and potentially take over positions manually if they do not recover quickly.
For Futures markets, this decision should be carefully considered so as to avoid liquidation of your positions which is more expensive than reaching a Stop Loss.
The liquidation price is not known when the signal arrives. However, for Isolated Margin positions,it is possible to estimate where the Liquidation price will be relative to the entry price depending on the chosen leverage. In general, the higher the leverage, the closer the liquidation price will be to the entry price.
However DCAs will also impact the liquidation price--for a long position, it will move down as the average entry price decreases.

Due to the risk of liquidation, it is recommended that conservative settings are used for a CBS signal bot. For example:
one TP at half median drop
and possibly, TSL: Follow Price to move the SL up as soon as the position moves into profit
low leverage. If higher leverage is used, more monitoring will be needed and/or a tighter Stop Loss.

Webhook Signal Bots

The use of webhook signals for Futures markets is mostly the same as for Spot markets.
Both Long and Short signals can be sent, to open a position.
For Futures:
the entry amount is calculated from the amount of quote currency available, and the position size it can fund.
this can be a percentage of the available balance or a fixed amount

Signal Bot Error Messages

Error messages might arrive after a signal is received.
Most error messages are shown in the Signal Bot Error Log.
You can check the contents of the signal by clicking the 'i' next to the market name.
These are some error messages that might appear in the log, specific to Futures markets.

Example messageIssue
BYBIF code: 130051 message: cannot set leverage [10000] gt maxLeverage [2500] by risk limit -- KUCNF code: 300016 message: The leverage cannot be greater than 20Leverage too high
Max per marketA position is already open on this market (see above)
Too many positions openedMore positions cannot opened as the limit specified in Max concurrent positions has been reached
BIFU code: -4003 message: Quantity less than or equal to zero. -- No orders could be placed: exchange: BYBIF code: 35015 message: Qty not in rangeOrder size is less than the minimum size for the exchange. Note that order minimums are often higher than those for Spot trading.
No entry orders to createThere is a problem with the size of the entry order. Either too small for the exchange or too large for the account. As above, use < 100% order size. For mimimum order sizes, test an order in the Trading widget, or check the exchange support documentation

Updated on: 04/06/2024

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